Nigeria Tech Landscape in 2021

Technology continues to play a critical role in the development of the Nigerian economy and 2021 has been no different. From e-Commerce to social media the success of almost any sector in Nigeria is highly impacted by the tech used in the sector to interact with customers and clients. Below are some key developments on how technology has continued to impact different sectors in Nigeria:

Health and wellness
Most people around the globe are becoming increasingly conscious about monitoring their general health and wellbeing and Nigeria has been no different in this regard. With the need to exercise and stay fit, many Nigerians seek the best fitness apps. Get Fit Technologies is an example of a site that offers access to fitness equipment. In addition to this many healthcare providers are offering online consultation services to their patients. An example of this, are Health Maintenance Organizations (HMOs) offering their members services through dedicated apps which allow their members to book appointments 24/7. It is expected that in the coming years as the Nigerian healthcare sector becomes increasingly digitized that more services will be provided through these means.

Agriculture
2021 has seen the recent trend in agriculture in Nigeria progress with the continued growth of agritech companies offering digital solutions. From the digitization of the agriculture process to agritech platforms providing business to business services to farmers, agritech is set to be a major contributor to the Nigerian economy going forwards. Releaf is one such platform, which through its proprietary software connects thousands of small hold farmers to major food manufacturers.

Manufacturing
There are several prominent manufacturing industries in Nigeria; textiles, oil and chemicals, food production, and metal production. In manufacturing goods, innovators have developed robots that help in producing, packaging, and sorting the goods. This has led to increased output in the manufacturing industries and cost-savings. Business owners have also found the need to use tools such as Enterprise Resource Planning (ERP) software to track their inventory and record sales and raw materials. This not only promotes accuracy but also proper record-keeping for the future. Up until recently almost all ERP software providers were international companies however in recent years Nigerian companies such as Crown Interactive have also entered the market.

Finance
The finance industry in Nigeria was one of the first industries in Nigeria to start utilizing technological innovations to provide their services, most major banks already provided apps for their clients to complete everyday banking needs. This was done by introducing digital banking options such as personal financial planning, digital wallets, unified payment systems, online banking and mobile banking. Access to these banking options has increased access to banking services to customers. One major development this year has been the increasing number of Fintech companies challenging traditional banks with innovative platforms to allow micro businesses and customers outside the traditional banking system to transect with one another. Payment gateways such as Flutterwave have also made strides in providing safe and secure payment processes for businesses and consumers.

Transportation
Over the past few years, the Nigerian transportation sector has recorded a significant increase in the percentage of commercial vehicles. There has been a significant increase in ride hailing apps, particularly in the largest cities. These are increasingly being regarded as one of the most effective and convenient forms of travel in the major cities in Nigeria. Accessing online transportation from a mobile application such as Oga Taxi, Bolt and Uber has become increasingly popular amongst Nigerian commuters.

Education
Like other countries in Africa, Nigeria is trying to evolve the education system to adapt to the challenges of the modern learning environment. The ongoing Coronavirus pandemic disrupted much of the traditional learning during this year. Education establishments and private providers have continued developing sites and apps that allow students access to learning materials and assessment papers online. Some tuition providers manage virtual training through sites such as EduFirst allowing the learners to have exposure to instructional videos with the aim of providing an engaging and interactive learning environment whilst away from the physical classroom. Other providers such as Tuteria through their website have tried to streamline the process for booking private tuition for learners.

Retail
Fledgling retailers have continued to start and grow their businesses through alternative methods other than previous methods of marketing and advertising that may have been too costly. This has made the use of social media a powerful tool for marketing their products and growing their brand. Social media stands out as a powerful marketing tool since it helps smaller retailers reach a greater audience without a large advertising budget. For retailers, social media has proven to be a particularly powerful tool when linked to their own websites which allow potential customers to find out more about the retailer’s products and purchase their products. Website designers who are knowledgeable on brand management have helped retailers create impactful websites that sell their products. Increasingly such retailers are also utilizing web and app developers to create online e-Commerce stores to provide a seamless experience for the customer in purchasing their products.

Real estate
This is one of the fastest-growing sectors in Nigeria due to the high population growth driving the need for quality housing. The use of technology has been embraced by both home buyers and tenants who utilize mobile applications in their property search. Nigeria Property Center and Property Pro are two popular websites that allow individuals to filter for their property requirements to find the most suitable properties for their needs and budget. Real estate agents also now offer 3-D property tours so property searchers can tour many properties for their initial screening.

Entertainment
Compared to the past, where entertainment access was limited to location, most people can now access content across the globe. Streaming sites have become increasingly popular for accessing such entertainment. Whilst up until recently most streaming sites in the Nigerian market were the major international providers, recent years have seen indigenous streaming providers enter the market such as Nollyland and Arise Play.